中信重工: 中信重工市值管理制度

Core Viewpoint - The company aims to enhance its market value management practices to protect investor rights, particularly for small and medium investors, and to improve investment value and returns [1][2]. Summary by Sections General Principles - The company establishes a market value management system to enhance investment value and shareholder returns based on legal regulations and its own articles of association [1]. - Market value management is defined as strategic management actions taken to improve investment value and shareholder return by enhancing company quality [1]. Objectives and Basic Principles of Market Value Management - The primary objective is to enhance company quality, focus on core business, improve operational efficiency and profitability, and utilize various methods such as mergers, equity incentives, and cash dividends to reflect the company's intrinsic value [2]. - The principles include: - Quality-Based Principle: Company quality is fundamental to investment value and market value management [2]. - Compliance Principle: All actions must comply with laws and regulations, prohibiting insider trading and price manipulation [2]. - Investor Interest Priority Principle: Decisions should prioritize investor interests and returns [2]. - Integrity and Transparency Principle: Emphasis on honesty and transparency in investor relations and information disclosure [2]. Institutions and Responsibilities for Market Value Management - The board of directors leads market value management, with management collaborating closely, and the board secretary organizing the efforts [3]. - Responsibilities include: - The board must focus on enhancing company quality and consider investor interests in major decisions [3]. - The board should monitor market reflections of company value and take measures to align market performance with intrinsic value [3]. Methods and Approaches for Market Value Management - The company should focus on its core business and improve operational efficiency while employing various methods to reflect its quality: - Information Disclosure: Ensure accurate, complete, and timely information disclosure to enhance transparency [4]. - Investor Relations Management: Strengthen communication with investors through various activities to convey the company's intrinsic value [5]. - Cash Dividends: Establish a sustainable return mechanism for investors, balancing shareholder value maximization with stable market growth [5]. - Mergers and Acquisitions: Conduct M&A to enhance core competitiveness and optimize resource allocation [5]. - Equity Incentives and Employee Stock Ownership Plans: Align interests of management and employees with long-term company goals [5]. - Share Buybacks: Implement buybacks to stabilize market value and boost investor confidence [6]. - Other Legal Methods: Utilize other legally permitted methods for market value management [6]. Monitoring and Emergency Measures - The company should monitor key indicators like market value and P/E ratios against industry averages and set warning thresholds [7]. - In case of significant stock price declines, the company must analyze causes, communicate with investors, and consider share buyback plans if conditions allow [7][8].